From cars to champagne, consumer goods may be more expensive to import and export from Canada, China, Mexico, and other impacted countries.

Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a global trade war — all while on-again, off-again new levies continue to escalate uncertainty. Trump is no stranger to tariffs.

The Trump administration's tariffs on countries like China, Canada, and Mexico are raising concerns of a global trade war. Recent actions include a 25% tariff on auto imports and reciprocal tariffs affecting various goods,